CASE STUDY:

Credit Union of Texas

SITUATION

Faced with an extremely large market, hyper-competition, mixed demographics and a challenging economic climate, Credit Union of Texas decided to make a change after several years of working under a brand identity that was not delivering results.

Even many years after a name change, the credit union felt it had no true identity and was still regarded as Dallas Teachers Credit Union (its old name) by many members and the community. Internal brand surveys showed inconsistent staff engagement and understanding of the CUTX brand. There was also a degree of cynicism among the staff towards the brand — many simply chose not to live the brand.

The credit union board of directors established branding as one of its top strategic initiatives. Credit Union of Texas engaged On The Mark Strategies for guidance before, during and after their complete rebranding initiative.

The project included:

  • Research analysis
  • A comprehensive brand workshop with executive management
  • Training staff on the new brand

ACTIONS

On The Mark Strategies facilitated a brand workshop with executive team members. The role of On The Mark Strategies was to moderate discussion — not control it. “Mark helped our team come to realize who we are, and important things like our vision, mission, creed and message,” said Lisa Krenek, Director of Marketing with Credit Union of Texas. “The ideas from the brand workshop didn’t come from Mark — they came from us — but he helped us find them using his unique brand of industry expertise and humor.”

After conducting the brand workshop and analyzing brand identity data, On The Mark Strategies prepared a comprehensive brand plan. It included market research, competition and demographic analysis, brand surveys, branch visit reports, board feedback, target markets, brand training, timetables and measurement metrics.

During the brand identity discovery process with Mark, the credit union also decided on the following elements.

  • Vision: Delivering an unexpected experience
  • Tagline: Experience more
  • Core values: We are interested; we are
  • Creed: CUTX (Care, Understand, empowered; we have fun Teach, Xceed)

Once the new brand identity was established, it became time to roll it out to the staff. However, rather than using a tired “edict from on high” approach (and thus risking additional staff cynicism towards the new brand) Mark and the credit union executive management team decided on a “teach the teacher” approach. “Mark came in and did extensive brand training with department managers and frontline personnel,” added Krenek. “In this way, the brand was not seen so much as coming from the executive management team but as more of a grassroots effort. Our new brand was delivered to the front line, by the frontline, and I think this makes all the difference in the world for our success.”

On The Mark Strategies also provided additional assistance in crafting the credit union brand standards and procedures.

RESULTS

According to Krenek, “In the last year since we worked with On The Mark Strategies, every month is a record month over the previous year – particularly when it comes to checking accounts and loans. We would not be as successful as we are now without Mark’s help.”

Since its re-brand, Credit Union of Texas increased its Net Promoter Score (NPS) 25% in one year.

Credit Union of Texas is now in a much better position to leverage its strong brand in the marketplace. Executive management and employees at all levels are on the same page about the brand and can give consistent answers about its vision, core values, tagline and creed.

Importantly, the credit union has yet to fully engage its external marketing and advertising efforts related to the new brand. So far, results stem more from internal organic brand growth, not external media buys and marketing spending. This speaks volumes to the value and importance of branding and the way in which On The Mark Strategies helped relate this concept to Credit Union of Texas.

Location: Dallas, Texas
Assets: $1.4 billion
Members: 137,000

Mark helped our team come to realize who we are, and important things like our vision, mission, creed and message.

Lisa Krenek

Director of Marketing, Credit Union of Texas

In the last year since we worked with Mark, every month is a record month over the previous year—particularly when it comes to checking accounts and loans. We would not be as successful as we are now without Mark’s help.

Lisa Krenek

Director of Marketing, Credit Union of Texas